nifty banknifty
nifty
Support Zone 22794-22642
Resistance Zone 23160-23200
Banknifty
Support Zone 48494-48200
Resistance Zone 49375-49607
Going forward, 23,000 is expected to play a crucial role in the index's journey towards the upper band of the Rising Channel, placed at 23,100-23,200, whereas on the lower side, 22,800 is likely to act as support, experts said.
Market Trend
The market achieved the much-awaited milestone of 23,000 on May 23, although the index failed to close above it due to profit-taking at higher levels. This was reflected in the charts as the Nifty 50 formed a small-bodied bullish candlestick pattern with a long upper shadow. Overall, the mood remains in favor of the bulls, given the back-to-back 2 percent gains each in the last two weeks. However, volatility is likely to be elevated, especially ahead of the results of the mega event, the Lok Sabha elections, on June 4. Going forward, 23,000 is expected to play a crucial role in the index's journey towards the upper band of the Rising Channel, placed at 23,100-23,200, whereas on the lower side, 22,800 is likely to act as support, experts said.
The Nifty 50 hit an intraday all-time high of 23,026.40 before closing the session at 22,957, down 10.6 points on Friday with lower-than-average volumes. For the week, it was up 2 percent and formed a robust bullish candlestick pattern on the weekly charts for yet another week.
Meanwhile, the Bank Nifty continued to outpace the Nifty 50, climbing 203 points or 0.42 percent to 48,972. The index formed a bullish candlestick pattern on the daily timeframe. For the week, it was up 1.6 percent and saw a strong bullish candlestick pattern on the weekly charts.
Support Zone 22794-22642
Resistance Zone 23160-23200
Banknifty
Support Zone 48494-48200
Resistance Zone 49375-49607
Going forward, 23,000 is expected to play a crucial role in the index's journey towards the upper band of the Rising Channel, placed at 23,100-23,200, whereas on the lower side, 22,800 is likely to act as support, experts said.
Market Trend
The market achieved the much-awaited milestone of 23,000 on May 23, although the index failed to close above it due to profit-taking at higher levels. This was reflected in the charts as the Nifty 50 formed a small-bodied bullish candlestick pattern with a long upper shadow. Overall, the mood remains in favor of the bulls, given the back-to-back 2 percent gains each in the last two weeks. However, volatility is likely to be elevated, especially ahead of the results of the mega event, the Lok Sabha elections, on June 4. Going forward, 23,000 is expected to play a crucial role in the index's journey towards the upper band of the Rising Channel, placed at 23,100-23,200, whereas on the lower side, 22,800 is likely to act as support, experts said.
The Nifty 50 hit an intraday all-time high of 23,026.40 before closing the session at 22,957, down 10.6 points on Friday with lower-than-average volumes. For the week, it was up 2 percent and formed a robust bullish candlestick pattern on the weekly charts for yet another week.
Meanwhile, the Bank Nifty continued to outpace the Nifty 50, climbing 203 points or 0.42 percent to 48,972. The index formed a bullish candlestick pattern on the daily timeframe. For the week, it was up 1.6 percent and saw a strong bullish candlestick pattern on the weekly charts.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.